“Susu” scheme for small scale industries

The Association for Small-scale Industries (ASSI) is developing the mechanism for the implementation of a “Susu Scheme” to augment the financial base and businesses of members.

The Scheme, a collaborative work between ASSI and Synovus Financial Corporation of the Netherlands (SNV), would provide credit facilities for small-scale industries with a flexible loan recovery rate.

In addition, the SNV would give technical assistance to the industries in the areas of Budgeting, Business Risk Management and Analysis, Marketing, Packaging and Organizational Development as well as Product Development.

Mr Kwame Buor, Ashanti Regional Chairman of the Association, made this known at the inauguration of the Asante Akim North Municipality branch of the Association at Konongo.

He expressed worry at the high interest on loans charged by the banking institutions, saying the situation had over the years led to the collapse of many small-scale industries.

Mr Buor said he was optimistic that the Scheme would eventually alleviate the plight small-scale industries go through as they seek credit facilities to expand and also sustain their businesses.

He appealed to members to be receptive to new ideas in coming out with innovative products to facilitate their marketability on the world market.

Mr Obeng Mireku, the Municipal Chairman of the Association, called on all small-scale entrepreneurs to join the Association to help streamline their activities.

This would also allow them to access credit facilities with less difficulty whilst benefitting from the exchange of ideas.

Source: GNA